Best HSBC Credit Cards of 2019

This content is not provided or commissioned by the issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer's Affiliate Program.

Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

HSBC Bank Snapshot

Headquartered in London, HSBC is one of the world’s largest financial institutions, serving more than 39 million customers around the globe. As part of the banking services they provide, HSBC issues a number of credit cards designed for people who want to earn rewards on their spending, we selected two of them to discuss here.

If you’re shopping around for a new credit card, you might be wondering why you should consider HSBC over another bank. Credit Sesame’s got some insight into which HSBC cards are among the best ones to have, in our opinion, so take a look to see if one might be a good fit for your wallet.

Editor’s note: We updated this article for 2019. The information, including card rates and fees, presented in this article is believed to be accurate as of the date of the article (original published date or it’s updated date, if applicable). Please refer to issuer website and application for the most current information.

Best HSBC Credit Cards at a Glance

Terms, conditions, limitations and restrictions apply to all offers. See HSBC website for rates, rewards, benefits and other information.

Card Name

New Account Introductory Offer

Rewards

Annual Fee

Who's Eligible?

HSBC Advance Mastercard® credit card

Introductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases, and 2X Points on all other purchases in the first year, up to the first $25,000 in purchases. After that, you earn 2X Points on dining and select entertainment purchases, 1 Point per dollar on all other purchases.

After the Introductory points offer ends: Earn 2X Rewards Program Points on dining and select entertainment purchases. Earn 1X Rewards Program Point on all other purchases.

$0 annual fee during first year of Account opening; ongoing annual fee is $0 for qualifying U.S. HSBC Premier or Advance customers; otherwise, annual fee is $45

Exclusive to U.S. HSBC Premier or Advance customers

HSBC Platinum Mastercard® with Rewards credit card

Introductory offer: new HSBC Platinum Mastercard® with Rewards credit card customers earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After that, earn 1X Points per dollar on all purchases.

After the Introductory points offer ends: Earn 1X Rewards Program Point for every dollar in new card purchases.

$0 annual fee

All U.S. HSBC customers

Additional Notes:

Terms apply

Terms apply

Terms apply

Terms apply

HSBC Credit Card Basics

HSBC offers credit cards suited to just about every type of spender. Some are designed for people who spend primarily on dining and entertainment. Some have a straightforward cash back rewards program.

None of HSBC’s credit cards charges a foreign transaction fee, which is a huge plus if you need to use a credit card outside the U.S. Some cards have no annual fee, while others eliminate the annual fee requirement for HSBC customers who have a qualifying checking account with HSBC. To get a better grip on how each card stacks up, we’ve broken down all the details for you. Keep reading because we’ll also compare HSBC’s cards to some of the other top rewards cards on the market.

Card #1: HSBC Advance Mastercard® credit card

We think it’s best for: People who spend big on dining and entertainment

Card features we want to highlight:

Introductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases, and 2X Points on all other purchases in the first year, up to the first $25,000 in purchases. After that, you earn 2X Points on dining and select entertainment purchases, 1 Point per dollar on all other purchases.

No annual fee for customers who have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship

The HSBC Advance Mastercard® credit card offers rewards on dining and select entertainment purchases to U.S. HSBC Advance customers and Premier customers. With this card, there is an introductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases, and 2X Points on all other purchases in the first year, up to the first $25,000 in purchases. After that, you earn 2X Points on dining and select entertainment purchases, 1 Point per dollar on all other purchases.

Options to redeem your points are plentiful, redeem points for gift cards to popular restaurants, movie theaters, and top retailers, or choose from a selection of leading brand merchandise, or redeem your points for cash in the form of a statement credit on your HSBC Credit Card or as a direct deposit into your HSBC Bank USA, N.A. consumer checking or savings accounts in your name alone or as a joint accountholder. You can also redeem your Rewards Program Points for flights, hotels and car rentals using the HSBC online travel rewards booking site. Keep in mind that all reward option items are subject to limited availability and subject to the terms, conditions and restrictions imposed by suppliers (if applicable). Redemption levels, Points values, and availability are subject to change without prior notice.

To apply, you need to have an existing U.S. HSBC Advance checking account relationship and maintain a combined U.S. personal deposit and investment balance of $10,000 in your U.S. HSBC account. You can also apply if you have a balance of at least $5,000 and a recurring third-party direct deposit into your U.S. HSBC Advance Checking account at least once per calendar month. Business owners may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal HSBC Advance relationship. As for the checking account, there will be a monthly maintenance fee of $25 if the minimum balance or minimum balance with direct deposit requirement is not met.

And lastly you can apply if you have an existing U.S. HSBC Premier relationship, a U.S. HSBC Premier checking account and maintain balances of $100,000 in combined U.S. Dollar personal deposit accounts and HSBC investment balances. As for business owners, they may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal U.S. HSBC Premier relationship. As for the checking account, there will be a monthly maintenance fee of $50 if the minimum balance requirements are not maintained.

The annual fee will not be assessed to your credit card Account within the first year of Account opening. On an ongoing basis you’ll pay nothing for the annual fee as long as you have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship. A $45 annual fee will apply for HSBC Advance Mastercard® credit card Account customers who no longer have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship.

Terms apply.

Card #2: HSBC Platinum Mastercard® with Rewards credit card

We think it’s best for: People who don’t spend as often but still want rewards

Card features we want to highlight:

Introductory offer: new HSBC Platinum Mastercard® with Rewards credit card customers earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After that, earn 1X Points per dollar on all purchases.

Redeem points for cash back or choose from other redemption options including gift cards from popular retailers, select brand name merchandise and more

No annual fee

We think the HSBC Platinum Mastercard® with Rewards credit card is good for anyone who likes to keep things simple. This card has no annual fee and you don’t need an Advance or Premier Checking account to be eligible to apply. Qualifying new Cardmembers have an opportunity to earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After that, earn 1X Points per dollar on all purchases.

Even though it’s not strictly a cash back card, you can redeem your points for cash in the form of a statement credit on your HSBC Credit Card or as a direct deposit into your HSBC Bank USA, N.A. consumer checking or savings accounts in your name alone or as a joint accountholder. You can also redeem points for select brand name merchandise, including electronics, luggage, kitchenware, sports gear and more or redeem points from a great selection of gift cards from select popular retailers. Keep in mind that all reward option items are subject to limited availability and subject to the terms, conditions and restrictions imposed by suppliers (if applicable).

When you’re considering redemption options, read through the terms and limitations carefully so you understand what the rules are and how much value your points have. The good news is your points have no expiration so you can let them pile up until you’re ready to use them.

Terms apply.

HSBC Credit Cards vs. the Competition

While HSBC gives you a range of cards to choose from, it’s a good idea to look at cards from other banks as well. Before you make your final choice, check out a couple of alternatives we thought may interest you.

Chase Sapphire Preferred® Card

Card features we want to highlight:

Earn 2X points on travel and dining at restaurants and 1 point per dollar spent on all other purchases worldwide

Eligible new Cardmembers – earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

The annual fee is $95

No foreign transaction fee

The Chase Sapphire Preferred® Card has a lot to like if you’re a frequent traveler. This card offers 2X points on travel and dining at restaurants and 1 point per dollar spent on all other purchases worldwide. Points are transferable on a 1:1 basis to select leading airline and hotel loyalty programs.

You also get 25% more in travel redemption value when you redeem your points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For instance, 60,000 points are worth $750 toward travel when you redeem those points through Chase Ultimate Rewards®. The $95 annual fee is a bit pricey but you can earn that back, based on your spending habits, if you’re using the card to purchase airline tickets, book hotel stays or dining at restaurants regularly.

Terms apply.

Chase Freedom®

Card features we want to highlight:

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Unlimited 1% cash back on all other purchases.

There’s no annual fee

With the Chase Freedom® card you earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Take advantage of new 5% categories each quarter. Unlimited 1% cash back on all other purchases. For qualifying new Cardmembers you earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Your Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back. All that, plus there’s no annual fee.

Terms apply.

Discover it® Cash Back

Card features we want to highlight:

Cash back rewards program – earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, and more up to the quarterly maximum, each time you activate

Plus, earn unlimited 1% cash back on all your other purchases using your Discover it® Cash Back card

There is an introductory offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically, for new cardmembers only. There’s no signing up and no limit to how much is matched.

There is no annual fee

The Discover it® Cash Back card offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, and more up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all your other purchases using your Discover it® Cash Back card.

For icing on the cake, the Discover it® Cash Back card has an introductory offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically, for new cardmembers only. This introductory offer does not require signing up and there’s no limit to how much cash back Discover will match.

Terms apply.

Should You Get an HSBC Credit Card?

If you’re an HSBC customer already, choosing an HSBC credit card may seem like a no-brainer. It’s still a good idea, however, to look at a variety of cards before you settle on one to make sure your choice complements your spending style. If you need a little more information Credit Sesame’s credit card marketplace is a resource you can use to compare different card options from our credit card partners.

Independent Review Disclosure: All the information about the HSBC Advance Mastercard® credit card and HSBC Platinum Mastercard® with Rewards credit card has been collected independently by CreditSesame.com and has not been reviewed or provided by the issuer of these cards. The HSBC Advance Mastercard® credit card and HSBC Platinum Mastercard® with Rewards credit cards are not available through CreditSesame.com.

Advertiser Disclosure: The credit card and loan offers that appear on this site are from companies from which this site receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not show all credit card or loan offers available in the marketplace. Credit Sesame is an independent comparison service provider. Reasonable efforts have been made to maintain accurate information throughout our website, mobile apps, and communication methods; however, all information is presented without warranty or guarantee. All images and trademarks are the property of their respective owners.

Editorial Content Disclosure: The editorial content on this page (including, but not limited to, Pros and Cons) is not provided by any credit card issuer. Any opinions, analysis, reviews, or recommendations expressed here are author’s alone, not those of any credit card issuer, and have not been reviewed, approved or otherwise endorsed by any credit card issuer.

Provider’s Terms: *See the online provider’s application for details about terms and conditions. Reasonable efforts have been made to maintain accurate information, however, all information is presented without warranty or guarantee. When you click on the “Apply Now” button, you can review the terms and conditions on the provider’s website. Offers are subject to change and the terms displayed may not be available to all consumers.

The information, including card rates and fees, presented in this article is believed to be accurate as of the date of the article. Please refer to issuer website and application for the most current information. Verify all terms and conditions of any offer prior to applying.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Reviews: User reviews and responses are not provided, reviewed, approved or otherwise endorsed by the banks, issuers and credit card advertisers. It is not the banks, issuers, and credit card advertiser’s responsibility to ensure all posts are answered. The Credit Sesame website star ratings are an average based on contributions from independent users not affiliated with Credit Sesame. Banks, issuers and credit card advertisers are not responsible for star ratings, nor do they endorse or guarantee any posted comments or reviews.

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

You can trust that we maintain strict editorial integrity in our writing and assessments;
however, we receive compensation when you click on links to products from our partners and get approved.

Published October 25, 2016

Rebecca is a financial journalist from North Carolina. She has a Bachelors in Political Science from the University of South Carolina. She covers the intersection of public policy and personal finance.

Protect Credit

The credit card and loan offers that appear on this site are from companies
from which this site receives compensation. This compensation may impact how
and where products appear on this site (including, for example, the order in
which they appear). This site does not show all credit card or loan offers available
in the marketplace. Credit Sesame is an independent comparison service provider.
Reasonable efforts have been made to maintain accurate information throughout our
website, mobile apps, and communication methods; however, all information is presented
without warranty or guarantee. All images and trademarks are the property of their
respective owners.